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PayExpo 2015 - London 9-10 June 2015
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Author Topic: PayExpo 2015 - London 9-10 June 2015  (Read 44081 times)

jl777

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #240 on: June 16, 2015, 06:04:06 am »

Thanks. The cultural difference makes sense. I assumed you were talking about a specific tech difference that made Nxt more efficient at storing tx records.
that too. the NXT tx is smaller, curve25519 -> 64bit accts instead of bitcoin addresses, shorter txids, etc.
but with larger adoption NXT blockchain will also need some significant code changes to handle it properly. So while bitcoin is pushing a divisive change to 20MB because it is the safest and easiest change to the code, I expect when NXT blockchain is pushing 10GB, the NXT devs will say here is a hardfork that will change to linear blockchain growth instead of exponential bloat.

We will say, "Thanks jean-luc!"

Not much drama, a few cases of people who end up on the wrong fork for a while, the community helps everyone get back on track and onto the nxt hardfork we go.

James
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barbierir

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #241 on: June 16, 2015, 06:05:10 am »

Discussing with bitcoin maximalists about Nxt I have the same impression, their cult is basically this:
1. A working system is more important than adding features with the risk of breaking it
2. Any other feature can be built on top of Bitcoin by 3rd party services
« Last Edit: June 16, 2015, 06:08:12 am by barbierir »
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jl777

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #242 on: June 16, 2015, 06:30:28 am »

Discussing with bitcoin maximalists about Nxt I have the same impression, their cult is basically this:
1. A working system is more important than adding features with the risk of breaking it
2. Any other feature can be built on top of Bitcoin by 3rd party services
and the blockstream devs are actually doing some interesting work, but what they will end up with is another long hardfork debate and when the system is finally debugged a system that isnt really used for the sidechains, but for the altcoin features that are available. the reason is that from what I can tell the sidechain mechanism will either be like MGW, or maybe something like the tiernolan method, or take 2+ days of confirms.

Since it is unlikely that people will be waiting 2 days for BTC <-> sidechains, all such swaps will be done via, yes, exchanges!

which means all this work and they will end up with a system that is essentially BTC <- exchanges -> sidecoins

And that is after all the tech is done and the hard fork politics settled. In the meantime, NXT will be 4 to 7 hard forks down the road

James

P.S. I dont think the bitcoin peoples realize that $3 billion is really not so much money compared to anything global, or even corporate. Hopefully they will get their act together and stop squabbling and finally get some new useful tech. It feels a boat anchor to have the major crypto locked in 2012
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cryptoscout

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #243 on: June 16, 2015, 09:01:23 am »

Advantages of NXT:

Fintech are looking for low cost solution not a solution that is going to cost them more then there current systems with NXT you can point Nodes which are very lost cost and some built in core functions.

One of the key elements the base line platform of NXT2PAY has been doing the Voting for the Namibian Trade Union 600,000 Voters for nearly a year and this is done Via SMS no APP or Internet and to just prove a user case with the New Release of NXT Voting http://vote.nxt2pay.me/en/  Lee and Nick and the Team put this in Place within 72 hours for Payexpo for the best speaker etc and when presented that caught interest from the FIntech as it is something they can touch use and understand but the novelty over the blockchain and the big suggestion 90% of the people said this is good for Political Voting so you have Fintech saying this could be used for Political Voting.

Here are some user cases discussed at Payexpo with the Fintech people and is possible over NXT

Drachmae A Loyalty program over the blockchain for the Island of Agistri, Greece Objective "rejuvenate tourism on the island and evaluate User and Merchant adoption and Trend"

NXT2PAY Voting, Payment Processing Transaction down to SMS, Loyalty program and interface enabled for 3rd Party plugins to be built Objective "Remittance is one area acting as a go between like Swift, But the most compelling user cases such as M-Pesa that has the world food Program contract with NXT2PAY M-Pesa can plug in and distribute via Tokens into area outside of the Vodafone Network expanding there Borders, Last case is in Africa and also in Europe payment of Utilities for key meters but in Africa "South Africa" Municipality need to be able to collect payments from rural areas "We already have access to the Municipalities to collect payments and this does not need to be crypto this can be with a partnership with Vodacom and M-pesa to move M-pesa over NXT2PAY anf NXT Blockchain.

Groovix and its core platform is already used by 150 banks in a centralized manner Tier 1 and Tier 2 this would enable a bank to store and stay within the limits of Jurisdictional control to comply to the regulators when using a decentralized blockchain or supplemented by a Ledger Chain or Private chain Example "Asset is crypto777"

IPPAN A microlending/loyalty program based off your Digital Identity and this is big topic within the Banking sector as they hold so much information on you as a bank and the use of the blockchain for Digital Identity is in large demand due to Big Data and Security Example Coinstructors and UBS Bank are hosting the London Hackco.in and the subject is Smart Bonds and Digital Identity and the hackers are only going to be working over NXT API

Smart contract and Smart Bonds all the big banks are looking and experimenting with Eris Industries, Get Gredits, Ethereum and some work on the Bitcoin Blockchain but where is NXT in the Picture????? No Where as its all community based and nothing in the real world yet at PayExpo again it got the attention but now the full frontal attack is to follow up.

SO here's why NXT is ahead of the game its been around coming upto 2 years soon and is basically the 1st currency after bitcoin to have its own code and not be a clone.
NXT has been mentioned many times in EBA and ECB and to the UK Treasury as a technology and has been confirmed as a technology offers low cost blockchain network so it has sex appeal to corporate .

The point here is this people support assets for Dividends but not supporting the actual technology to get mainstream there should be assets created based on donations to support User cases and if the user case is adopted then that asset can be redeemed back at a profit for the Donor.

NXT Negative points

  • No FIntech structure
  • NXT Foundation does not have funding pot to even be able to engage in the fintech world
  • NXT Does not have Live user cases to demonstrate it potential on the global stage
  • NXT is community based so its locking its self outside of the real world
  • Mental issues NXT is the Best but who knows about it who is building on it?

If you compare NXT to one year ago it had more developers the Forum was more active but now you look at it one year later interest in NXT is declining due to Factom, Get Credits, Eris and all the other altcoins out there that are chewing at the the Heels of the fintech world and VC Money.

BUILD BUILD BUILD this is what NXT does but the issue is NO USer no USER no uSER so building is totally pointless as its building for nobody only itself.

NXT Foundation needs to somehow find a funding pot bank of at least 500,000 USD and find a way to bring in 250,000 USD a year to bring in some key players and those players don't work on Asset distribution or anything they are in it to get results and this is what the NXT Foundation needs badly to take NXT to the NXT Level

NXT FOundation also needs to focus on bring companies to NXT to build services over NXT just like people do with Ethereum, credits, Bitcoin etc "Very honestly Comply or Die situation for NXT now either it stays a kiddies toy with fintech technology or it goes after the mainstream and provides value with its Technology in the real world"

Lee has got pissed off with the Mainstream media as Drachmae is all the time bitcoin connected when it is not and he continually stated this to media "Its not bitcoin"

Media: "PS Drachmae has more media in 7 weeks than NXT has gained in nearly 2 years and This is real media not crypto media"
http://www.reuters.com/article/2015/06/05/us-digital-currency-greece-idUSKBN0OL0JR20150605
http://www.protothema.gr/economy/article/482128/reuters-tha-borouse-mia-psifiaki-drahmi-na-apotrepsei-to-grexit/
http://www.cnbc.com/id/102663713
http://www.theargus.co.uk/business/13321354.Electronic_currency_can_rescue_Greek_economy/
http://www.ibtimes.co.uk/drachmae-could-bitcoin-inspired-currency-be-answer-greeces-economic-woes-1501532
https://bitcoinmagazine.com/20640/supernet-sponsors-drachmae-blockchain-solution-greece-project/
http://techcitynews.com/2015/05/18/can-digital-currencies-solve-greeces-economic-woes/
http://www.dailymail.co.uk/wires/reuters/article-3111988/Could-digi-drachma-avert-Grexit.html
http://www.thetoc.gr/oikonomia/article/digi-drachma-gia-na-apofeuxthei-to-grexit

Did they elaborate on that?

Quote
they already know Bitcoin will be obsolete quite soon.
https://blockchain.info/charts/blocks-size

look at alltime scale, what do you see?
Is there any reason to believe the exact same thing would not happen to NXT if we had as many tx/day as bitcoin?
yes

NXT does not use a primitive low level protocol from 2009

Can you be more specific? (Monosyllables is fine too.)
What makes Nxt so much more efficient?
Would like to write this up.
« Last Edit: June 16, 2015, 09:07:59 am by cryptoscout »
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capodieci

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #244 on: June 16, 2015, 09:28:54 am »

^^ that
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gs02xzz

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #245 on: June 16, 2015, 11:49:29 am »

+1440. I think we owe some applaud to cryptoscout and Lee.
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Damelon

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #246 on: June 16, 2015, 01:01:11 pm »

Just a point of order:

chanc3r paid in advance from his own bank accounts for the difference between the final price for the payexpo ánd for an extra advertisement @ 300 GBP in the handout conference booklet.

He's down for an amount of 61000 Nxt total.

I still have 47779 Nxt in my fund, which can be used for this, so I am 13221 Nxt short.

It would be great if people could donate sum to help make this up, so he is square. :)

The community fund ID is NXT-ZAGM-LKGT-JUD8-DPAEY



Addendum:
This also proves we need to really work on monetisation strategies from now on!
We really cannot keep working on a bounty model if we want to stay in the game.
NXT Foundation has made it one of its first priorities to look into this, together with some people who are more adept at this.

There is no way we can keep going to these conferences by just crowdfunding. We need to work to create a solid financial base here so we know what budgets we have and also that people can be paid for their work. This goes for anyone doing work.

We don't know what form this will take, but will be keeping you updated on what we find.
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MrCluster87

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #247 on: June 16, 2015, 03:26:39 pm »

Could some community member based in 1172 Castro Street Mountain View, CA 94040 schedule a lesson at Blockchain University showing Nxt Blockchain?

http://www.blockchainu.co/

cryptoscout

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #248 on: June 16, 2015, 04:08:55 pm »

Has there been an Official invite ??? is it Robert or Vitalik inviting??

Could some community member based in 1172 Castro Street Mountain View, CA 94040 schedule a lesson at Blockchain University showing Nxt Blockchain?

http://www.blockchainu.co/
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Nxtblg

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #249 on: June 16, 2015, 04:12:38 pm »

Discussing with bitcoin maximalists about Nxt I have the same impression, their cult is basically this:
1. A working system is more important than adding features with the risk of breaking it
2. Any other feature can be built on top of Bitcoin by 3rd party services

From their angle, it does make sense. Bitcoin is by far the #1 crypto and is the metonymy for cryptocurrencies in general. Think of how much trouble the Mt. Gox scandal made for Nxt evangelizers, even though Nxt had nothing to do with Mt. Gox.

When you're in that position, you naturally become conservative (i.e., quite risk-averse.) You start worrying about any change in the protocol that could upset the proverbial applecart. In addition, when you're #1, there are a lot more stakeholders: that number multiplies the potential for fractiousness because they're conservative in that way too. To take a single class of examples, it's a lot harder to be freewheeling and experimental when a lot of VCs have already knocked on the door and put their money down into related services. To a professional VC, freewheeling and experimental translates into "flaky" and/or "not ready for prime time." After all: if your métier is making high-risk investments, it's just plain common sense to control all the risks you can control - mainly by being quick with a "no, thanks."

In an odd but definite way, VC investment has a lot in common with investment in the debt of bankrupt companies. In both cases, the investor has to go in with eyes fully open and make durn sure that the prior uncontrollables are either controllable later or are at least predictable. Freewheeling and experimental does not gibe with that safety rule.   

That said, the inevitable resistance to change in the Bitcoin community is a real blessing for Nxt. It means that Nxt can compete with Bitcoin using the "low, slow and below" approach. Low: under the radar of "respectable." Slow: play the long game; see the ticking clock as your friend. Below: snap up the niches that the Bitcoiners are too chary to touch.

Inevitably, the same conservatism will seep into Nxt once it hits the mainstream: I guarantee it. One person's stodginess is another person's fiduciary responsibilities. "Where you stand depends up where you sit." 
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Cassius

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #250 on: June 16, 2015, 05:30:12 pm »

Bitcoin:

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ChuckOne

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #251 on: June 16, 2015, 05:40:51 pm »

Thanks. The cultural difference makes sense. I assumed you were talking about a specific tech difference that made Nxt more efficient at storing tx records.

Technology is just a reflection of the community's mind. If it can evolve, so can the technology.

Let us keep this up.
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cryptoscout

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #252 on: June 16, 2015, 05:43:35 pm »

People of NXT can you go to www.drachmaeconnect.com and sign up and cruise around the platform and let me know your thoughts as I want to give this type of platform to NXT Foundation for commercialization so it would be good to see your valued input on the platform itself
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cryptoscout

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martismartis

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #254 on: June 17, 2015, 12:54:03 pm »

Maybe wrong topic, but anyway: any plans to attend in https://www.money2020europe.com/ ?
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bahamapascal

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #255 on: June 17, 2015, 01:50:56 pm »

Just a point of order:

chanc3r paid in advance from his own bank accounts for the difference between the final price for the payexpo ánd for an extra advertisement @ 300 GBP in the handout conference booklet.

He's down for an amount of 61000 Nxt total.

I still have 47779 Nxt in my fund, which can be used for this, so I am 13221 Nxt short.

It would be great if people could donate sum to help make this up, so he is square. :)

The community fund ID is NXT-ZAGM-LKGT-JUD8-DPAEY



Addendum:
This also proves we need to really work on monetisation strategies from now on!
We really cannot keep working on a bounty model if we want to stay in the game.
NXT Foundation has made it one of its first priorities to look into this, together with some people who are more adept at this.

There is no way we can keep going to these conferences by just crowdfunding. We need to work to create a solid financial base here so we know what budgets we have and also that people can be paid for their work. This goes for anyone doing work.

We don't know what form this will take, but will be keeping you updated on what we find.


3k sent :)
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abctc

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #256 on: June 17, 2015, 02:32:40 pm »

chanc3r paid in advance ...
... so I am 13221 Nxt short.

It would be great if people could donate sum to help make this up, so he is square. :)

The community fund ID is NXT-ZAGM-LKGT-JUD8-DPAEY

- 4k sent.
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Nxtblg

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #258 on: June 17, 2015, 05:02:04 pm »

Bitcoin:



Thanks for the tl;dr for my earlier post. ;D
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Nxtblg

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Re: PayExpo 2015 - London 9-10 June 2015
« Reply #259 on: June 17, 2015, 05:06:12 pm »

People of NXT can you go to www.drachmaeconnect.com and sign up and cruise around the platform and let me know your thoughts as I want to give this type of platform to NXT Foundation for commercialization so it would be good to see your valued input on the platform itself

Speaking of Drachmae: do you have a sense that NXT's recent pump comes from its connection to Drachmae/Greece? Word is, Bitcoin's jumping because of the Grecian crisis apparently coming to a head. I was wondering if you've picked up any hints that NXT is benefitting price-wise too.
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